Re: WLSI -- As you know the company had a NT 10-Q, and when the 10-Q came out several days after it might have surprised most folks, which might have triggered the move.
I got in again earlier last week, and out on Friday. I wanted to get out on Thursday, but I took my chance, and glad I did it. Tell you the truth, I hoped for a 50% gain, and instead I got out with a near 600% gain.
The technology is very good, so if they survive until they start bringing in some revenue, this could become a good company. However, although the reduced losses (to some $3M last Q, from $5M for the same Q last year), they are deep in red right now, so they may or may not make it.
In any event, on Friday the Price/Sales was above 12, which is unsustainable for a penny company w/o any income. For such a company, in my books, the P/S should not be above 2 (and this including the good potential technology bonus). Hence, short-term I expect it to drop back below 0.002. But, I might be wrong, and it won't be for the first time.
Mike
Re: "Mike, what do you make of the action the last 2 days on WLSI? I know you're pretty familiar with them."
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